Insider Selling: Steel Dynamics, Inc. (NASDAQ:STLD) SVP Sells $2,387,767.69 in Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Steel Dynamics Stock Down 2.4 %

STLD stock opened at $128.64 on Thursday. The firm has a market cap of $20.21 billion, a price-to-earnings ratio of 8.84 and a beta of 1.31. Steel Dynamics, Inc. has a 1-year low of $98.74 and a 1-year high of $151.34. The firm has a fifty day moving average price of $121.43 and a two-hundred day moving average price of $127.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.19.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. Steel Dynamics’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.47 earnings per share. Research analysts predict that Steel Dynamics, Inc. will post 10.12 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.43%. Steel Dynamics’s payout ratio is currently 12.64%.

Institutional Investors Weigh In On Steel Dynamics

A number of hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC acquired a new stake in shares of Steel Dynamics in the 1st quarter worth about $25,000. Innealta Capital LLC bought a new position in Steel Dynamics in the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Steel Dynamics in the second quarter valued at approximately $41,000. Riverview Trust Co bought a new stake in shares of Steel Dynamics during the first quarter valued at approximately $50,000. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after buying an additional 100 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on STLD shares. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley dropped their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, BMO Capital Markets increased their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics has an average rating of “Hold” and a consensus target price of $144.29.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.